Author Archives:
Josh Crisp

The IRS has released Notice 2026-11, clarifying how 100% bonus depreciation works under the One Big Beautiful Bill Act (OBBBA). The interim guidance outlines the timing rules, available elections, and the types of property that qualify now that the full deduction is back in place. These issues are particularly important for any business investing in equipment, upgrading facilities, or managing multi-year projects. This guidance will ensure businesses can take full advantage of this compelling tax savings tool.

The IRS and Treasury have issued the first round of guidance on Trump Accounts in Notice 2025-68. This offers the earliest look at how the new accounts will function when they launch in 2026. Created under the One Big Beautiful Bill Act (OBBBA), Trump Accounts are designed as long-term retirement savings vehicles for children. The program includes a highly anticipated $1,000 federal contribution for eligible children born between 2025 and 2028, provided a parent or guardian elects to open an account. The new guidance explains how those elections will be made, how contributions will be tracked, and what investment options will be allowed during a child’s early years.

As 2025 winds down, many businesses are taking time to review year-end tax strategies. Recent changes from the One Big Beautiful Bill Act (OBBBA) restored several tax breaks and adjusted rules that will apply for the first time in the upcoming filing season. Companies should look closely at these updates to determine if they qualify to take advantage of these tax saving opportunities. For many there will be an opportunity to reduce taxes before year end.

The GENIUS Act, signed into law in July 2025, is the first federal law to regulate the payment of stablecoins. A payment stablecoin is a digital asset designed to keep a steady value, usually tied to the U.S. dollar and backed by cash or short-term Treasury securities. These assets are already widely used in payments, cross-border transfers, and cryptocurrency markets. The law defines who is allowed to issue stable coins, sets rules for reserves and reporting, and places oversight with federal and state regulators.

The One Big Beautiful Bill Act (OBBBA), signed into law earlier this year, contains provisions that will directly affect construction companies. It offers new ways to lower taxable income, improve cash flow, and invest in equipment and property. Some benefits are already in place, and others take effect in later years. A number of popular energy-related incentives have short deadlines, which means companies will need to act quickly to take advantage of them.

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) became law, changing several areas of the federal tax code. One of those changes affects Section 1202, which has offered tax benefits for small business investors for more than thirty years. The provision allows qualifying gains from the sale of certain stock to be excluded from federal income tax. It has been adjusted several times since it was introduced, and this latest revision adds new ways for taxpayers to benefit.

Wilson Lewis, a top accounting and advisory firm based in Atlanta, announced today that Ferraro Tax & Accounting CPA (“FTA”) of Alpharetta, GA, has joined the firm. The combination blends two firms with deep local roots and robust service cultures in the Greater Atlanta area. “FTA has a well-deserved reputation for quality, personal attention and expertise in problem-solving highly complex tax scenarios. Their service ethic aligns perfectly with our culture of client engagement and long-term relationships,” said Josh Crisp, CEO of Wilson Lewis.

The One Big Beautiful Bill Act, which was signed into law in early July, calls for several significant changes to various business, individual, estate tax, and energy tax provisions. In many cases, the changes implemented served as extensions of expiring provisions initially called for in the Tax Cuts and Jobs Act (TCJA) Of 2017. However, others are completely new incentives that benefit individuals and families. This includes an extension of the individual tax brackets, the standard deduction, new tip income deduction, and the senior tax deduction.

On July 4th, President Trump signed The One Big Beautiful bill (OBBB) into law, which calls for several individual and business tax cuts and changes. Included within the text where many extenders and updates to changes originally introduced in the Tax Cuts and Jobs Act (TCJA) of 2017. While there were dozens of updates and changes the most prominent include an extension of the Section 199a deduction, full expense of R&D expenses, restoration of 100% bonus depreciation, an increase in the SALT deduction, and calls for an expansion of the Employer Provided Child Care Credit.

For business owners weighing options, the way a business is taxed can shape nearly every decision that follows. The C corporation stands apart from other structures in that it pays taxes as a separate legal entity. That single distinction affects everything from how profits are handled to how much flexibility the business has in managing earnings and benefits.